Guideline Value for THIRUVENGADAIAH 2nd CROSS STREET

THIRUVENGADAIAH 2nd CROSS STREET guideline value

The current guideline value of THIRUVENGADAIAH 2nd CROSS STREET is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of THIRUVENGADAIAH 2nd CROSS STREET has changed

Over the years, the guideline value of THIRUVENGADAIAH 2nd CROSS STREET has seen several revisions. The 2007 revision recorded a value of Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure decreased to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 3,300 per sq.ft. There are no recorded figures for the years 2002 and 2003 for this street.

In terms of percentage changes, the guideline value increased by 400% from 2007 to 2012, decreased by 33% from 2012 to 2017, and saw a substantial increase of 49% from 2017 to 2023. The most recent increase from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, making the 2024 figure for THIRUVENGADAIAH 2nd CROSS STREET below that median.

• THIRUVENGADAIAH 1st STREET: Rs 3,300 per sq.ft (2024)
• Thiruvengadaiah 2nd Lane: Rs 3,300 per sq.ft (2024)
• Thiruvengadaiah 1st Lane: Rs 3,300 per sq.ft (2024)
• THIRUVENGADAIAH 2nd STREET: Rs 3,300 per sq.ft (2024)
• THIRUVENGADAIAH 1st CROSS STREET: Rs 3,300 per sq.ft (2024)
• Thiruvengadaiah 3rd Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in THIRUVENGADAIAH 2nd CROSS STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers THIRUVENGADAIAH 2nd CROSS STREET?

THIRUVENGADAIAH 2nd CROSS STREET falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Villivakkam

The guideline value plays a crucial role during the registration of property transactions in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of THIRUVENGADAIAH 2nd CROSS STREET?

The current guideline value of THIRUVENGADAIAH 2nd CROSS STREET is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 600 per sq.ft to Rs 3,300 per sq.ft in 2024. There have been several revisions, with the most significant increase occurring between 2007 and 2012, where it rose by 400%.

What is the land classification of THIRUVENGADAIAH 2nd CROSS STREET?

THIRUVENGADAIAH 2nd CROSS STREET is classified as Residential Class IV Type - II, indicating its suitability for residential purposes.

Which Sub Registrar Office handles registrations for this street?

The Villivakkam Sub Registrar Office is responsible for handling registrations for THIRUVENGADAIAH 2nd CROSS STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.